Analysis of the Primary Models of International Marketing

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International Marketing Introduction The three primary models that international marketing is predicated on include ethnocentric, geocentric and polycentric approaches to entering, selling to and serving new markets. Each of these approaches have inherent strengths and weaknesses associated with them, and the intent of this analysis is to explain how the way a company markets a product or service will dictate the selection of one over another. There are many cultural differences and factors to take into account when choosing which of these models to base a global expansions trategy on. The Hofstede Model of Cultural Dimensions is commonly used as a taxonomy for defining and basing decisions on cultural attributes as defined through the research of Dr. Hofstede while at IBM (Hofstede, McCrae, 2004). Analysis of the Primary Models of International Marketing The greater the complexity and variety of a given market, the more critical it is to align each strategy and initiative, every supporting system and platform to the unique needs of a global market. The most preferred approach for entering highly culturally diverse, challenging markets is to concentrate on a polycentric approach to business development, marketing, selling and service strategies (Kucza, Gebauer, 2011). This approach also makes it possible to create a more effective balance between the variations in cultures between the host nation of the expanding firm and the nation being expanded into (Hofstede,
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